Abivax (NASDAQ:ABVX) Downgraded by Wall Street Zen to “Sell”

Abivax (NASDAQ:ABVX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

ABVX has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a report on Wednesday, October 8th. Barclays assumed coverage on Abivax in a report on Monday, October 13th. They issued an “overweight” rating and a $142.00 price objective on the stock. Wolfe Research raised Abivax to a “strong-buy” rating in a report on Thursday, November 6th. Guggenheim upped their price objective on shares of Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, BTIG Research lifted their price target on shares of Abivax from $112.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Abivax Stock Performance

ABVX opened at $125.54 on Friday. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of -72.57 and a beta of 0.48. Abivax has a one year low of $4.77 and a one year high of $138.49. The stock’s 50 day moving average price is $106.26 and its 200-day moving average price is $67.68.

Hedge Funds Weigh In On Abivax

A number of hedge funds have recently modified their holdings of ABVX. EverSource Wealth Advisors LLC increased its position in Abivax by 4,612.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after acquiring an additional 369 shares during the period. First Horizon Corp acquired a new position in shares of Abivax during the 3rd quarter worth $36,000. Hantz Financial Services Inc. purchased a new position in Abivax in the third quarter valued at about $52,000. Gordian Capital Singapore Pte Ltd purchased a new position in Abivax in the 3rd quarter valued at approximately $76,000. Finally, Covestor Ltd acquired a new position in shares of Abivax during the 3rd quarter worth $96,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Company Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.